Student Blogs & Vlogs | College Study Abroad Programs, IFSA-Butler

Financing

So I figured that for this pre-departure post I would write about financing for Study abroad. I will tell you this now before anything else. It is really confusing to determine how much you will need. Obviously your plane ticket will be a large portion of the trip entire. It’s good to create a goal by first attaining the amount of money for the airfare and then afterwards to begin thinking about your living expenses.

1.When planning your living expenses always start with food. Food is your number one priority because without food…well you know the gist. So find out what your food situations will be in your study abroad program. If all of your food is provided then bring a small amount for going out some nights and for snacks…lots and lots of snacks. If your program only finances some of your eating then bring more money for food. The way I see it is that you should never have more money in a category of financing than food. Food is important, if you want to buy a souvenir, not starving is a better souvenir. People at home will understand.

2.Transportation is another category that should rank fairly high on your priority list. If you live on the campus of your study abroad Uni. then lucky you, bring less money for getting around because you’re all set. If you live in a home stay figure out your transportation options: bus, taxis, bumming a ride, whatever. Also plan for possible trips (vacationy type things).

3.Finally the last thing that should play a priority is textbooks. Textbooks are expensive in America and that doesn’t change abroad. Be sure you have enough for textbooks. The great thing is that once you have your books you’re done, no need to purchase again.

4. This is the part where you take the rest of your money and use it to buy souvenirs or other non-essential things while abroad. Keep in mind I am using “non-essential” lightly. This includes things like toothpaste, deodorants, shampoos and clothes.

5. This is the last step. Keep track of your money. If you spend 13 on a shirt, find a place and write it down. Your parents will love to know what you’re spending your money on and it can be the difference between getting sent $200 when you need it.

 

I understand that thinking about money prior to studying abroad can really lessen the experience but as they always say “it’s best to be prepared”, so yeah do that preparation. Make sure you’re confident in your financial access prior to getting to the country. No one wants to get to Madeupcountryopolis and realize you don’t have enough money to buy proper shoes.

 

Next post will be about the exciting adventure of getting packed efficiently. See you next week maybe I’ll vlog it.

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